Vertex names Microsoft executive as new CEO

Vertex Inc. (NASDAQ: VERX) announced that David DeStefano will retire as president and chief executive officer on November 10, 2025, with Christopher Young set to succeed him in the role.

Young most recently served as executive vice president of business development at Microsoft, where he oversaw business development, venture investing and corporate strategy groups. He previously served as CEO of cybersecurity firm McAfee following its 2017 spinoff from Intel and held senior positions at Cisco Systems.

DeStefano will transition to serve as non-executive chairperson of the board after leading Vertex for 26 years. During his tenure, the company completed its initial public offering, expanded cloud-based solutions and made strategic acquisitions. The company surpassed $600 million in annual recurring revenue in 2024.

Young will join the Vertex board upon assuming the CEO role. He currently serves on the boards of Qualcomm and American Express and previously served on the boards of Snap and Rapid7. Young holds a bachelor's degree from Princeton University and an MBA from Harvard Business School.

The King of Prussia, Pennsylvania-based company also reported preliminary third quarter 2025 financial results. Total revenue is expected to reach approximately $192 million, compared to $170.4 million in the same period last year. Adjusted EBITDA is expected to be approximately $43 million, up from $38.6 million in the prior year period.

With Young's addition, the Vertex board will comprise nine directors, seven of whom are independent. The board conducted the succession search with assistance from Spencer Stuart.

Vertex provides indirect tax solutions to global businesses, with operations in North America, South America and Europe.

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